Also I used to trade daily bars - on end of day.
For trend reversals I would look at price breaking the low (117.25) then small retrace (up to 38.2 fib) before pushing down with momentum.
We haven't had that yet which means the long term trend is still in tact. Think it is important to realise the overall picture.
If it is going to reverse then there has to be a reason for that.
Abe to win the nobel piece prize for his monetary policies anyone?
For trend reversals I would look at price breaking the low (117.25) then small retrace (up to 38.2 fib) before pushing down with momentum.
We haven't had that yet which means the long term trend is still in tact. Think it is important to realise the overall picture.
If it is going to reverse then there has to be a reason for that.
Abe to win the nobel piece prize for his monetary policies anyone?